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06-01-2009, 01:15 PM
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#1
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Marauder Fitness
Join Date: Mar 2007
Location: Aurora, Illinois, United States
Age: 29
Stats: 6'0", 275 lbs
Posts: 1,326
BodyBlog Entries: 0
BodyPoints: 2366
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Rent vs. Own??
What do you guys think. Also if you dont do either one STFU. I dont teenage theories.
Personally I am all for Renting till I get older it is cheaper and as the recent market has shown safer in many cases.
__________________
I manage a Fitness Equipment store so if you have questions on equipment PM me and I will help.
In religion and politics, people's beliefs and convictions are in almost every case gotten at second hand, and without examination.- Mark Twain
Current Lifts
Bench 295x1
Squat 325x2
Dead 380x1 (yes, weak posterior chain, I am working on it)
Wt 273lb as of 10/3/09 Goal is 245 by January 1st.
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06-01-2009, 01:17 PM
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#2
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Banned
Join Date: Apr 2009
Location: New Jersey, United States
Age: 29
Stats: 6'0", 230 lbs
Posts: 932
BodyBlog Entries: 0
BodyPoints: 0
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i rent but only cuz i dont have the money to buy yet
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06-01-2009, 01:18 PM
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#3
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Sheepdog #3
Join Date: Apr 2007
Location: New York, United States
Age: 29
Stats: 6'1", 180 lbs
Posts: 4,328
BodyBlog Entries: 0
BodyPoints: 23145
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Equity son. Equity.
__________________
*S* 1\*
If you can read this thank a teacher. If you can read this in english thank a Soldier.
John 15:13 Greater love hath no man than this, that a man lay down his life for his friends.
The world is a dangerous place, not because of those who do evil, but because of those who look on and do nothing.
(Albert Einstein)
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06-01-2009, 01:18 PM
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#4
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Registered User
Join Date: Aug 2008
Location: Illinois, United States
Age: 26
Stats: 5'11", 172 lbs
Posts: 1,365
BodyBlog Entries: 0
BodyPoints: 0
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I prefer renting until I have a girl to move in with. Currently I split rent with my best brah.
__________________
Current Supplements:
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-Fish Oil
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06-01-2009, 01:19 PM
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#5
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Marauder Fitness
Join Date: Mar 2007
Location: Aurora, Illinois, United States
Age: 29
Stats: 6'0", 275 lbs
Posts: 1,326
BodyBlog Entries: 0
BodyPoints: 2366
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I rent because it is cheaper. unless you buy out right owning is alot more expensive IMO.
__________________
I manage a Fitness Equipment store so if you have questions on equipment PM me and I will help.
In religion and politics, people's beliefs and convictions are in almost every case gotten at second hand, and without examination.- Mark Twain
Current Lifts
Bench 295x1
Squat 325x2
Dead 380x1 (yes, weak posterior chain, I am working on it)
Wt 273lb as of 10/3/09 Goal is 245 by January 1st.
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06-01-2009, 01:19 PM
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#6
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Sheepdog #3
Join Date: Apr 2007
Location: New York, United States
Age: 29
Stats: 6'1", 180 lbs
Posts: 4,328
BodyBlog Entries: 0
BodyPoints: 23145
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Quote:
Originally Posted by kelt_22
What do you guys think. Also if you dont do either one STFU. I dont teenage theories.
Personally I am all for Renting till I get older it is cheaper and as the recent market has shown safer in many cases.
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If you have a stable job and qualify for a mortgage this is the best time in recent years to buy a house. With the amount of foreclosures and available houses on the market its a virtual firesale out there!
__________________
*S* 1\*
If you can read this thank a teacher. If you can read this in english thank a Soldier.
John 15:13 Greater love hath no man than this, that a man lay down his life for his friends.
The world is a dangerous place, not because of those who do evil, but because of those who look on and do nothing.
(Albert Einstein)
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06-01-2009, 01:19 PM
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#7
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The OG of Manletness
Join Date: Nov 2008
Location: Illinois, United States
Age: 31
Stats: 5'6", 166 lbs
Posts: 2,472
BodyBlog Entries: 0
BodyPoints: 0
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Quote:
Originally Posted by Mike Hancho
Equity son. Equity.
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this
would you rather have your money going towards something or completely disappearing?
Own
__________________
-chew crew
Go Cubs and Go Bears/Cutler, make us proud PLEASE!
lifting stats embarrassing and unpostable
fecalpheliac
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06-01-2009, 01:20 PM
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#8
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Throwin sticky bows
Join Date: Dec 2004
Location: Houston, Texas, United States
Age: 26
Stats: 5'10", 160 lbs
Posts: 806
BodyBlog Entries: 0
BodyPoints: 20
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Owning and collecting rent from the gf ftw.
__________________
We must Kung Fu fight!
1♥Spliff Crew 1♥
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06-01-2009, 01:21 PM
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#9
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Sheepdog #3
Join Date: Apr 2007
Location: New York, United States
Age: 29
Stats: 6'1", 180 lbs
Posts: 4,328
BodyBlog Entries: 0
BodyPoints: 23145
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Quote:
Originally Posted by elliott42o
Owning and collecting rent from the gf ftw.
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Nice!
__________________
*S* 1\*
If you can read this thank a teacher. If you can read this in english thank a Soldier.
John 15:13 Greater love hath no man than this, that a man lay down his life for his friends.
The world is a dangerous place, not because of those who do evil, but because of those who look on and do nothing.
(Albert Einstein)
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06-01-2009, 01:22 PM
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#10
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Banned
Join Date: Oct 2008
Stats: 5'11"
Posts: 6,135
BodyBlog Entries: 0
BodyPoints: 0
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of course you own.. Renting is just flushing money down the toilet (yes have mortgage, yes going to be renting it out in a coupla months)
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06-01-2009, 01:22 PM
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#11
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Marauder Fitness
Join Date: Mar 2007
Location: Aurora, Illinois, United States
Age: 29
Stats: 6'0", 275 lbs
Posts: 1,326
BodyBlog Entries: 0
BodyPoints: 2366
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Quote:
Originally Posted by Mike Hancho
Equity son. Equity.
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Does not exist. unless you live in the same house for a LONG time. look at the current market. people owe more than there houses are worth plus you pay almost doulbe the price once intrest is added in. Also maintence. I mow my lawn. Thats it. Plumber, new roof, etc I pay nothing.
__________________
I manage a Fitness Equipment store so if you have questions on equipment PM me and I will help.
In religion and politics, people's beliefs and convictions are in almost every case gotten at second hand, and without examination.- Mark Twain
Current Lifts
Bench 295x1
Squat 325x2
Dead 380x1 (yes, weak posterior chain, I am working on it)
Wt 273lb as of 10/3/09 Goal is 245 by January 1st.
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06-01-2009, 01:23 PM
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#12
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Registered User
Join Date: Mar 2005
Location: Training in Russia
Stats: 5'10", 177 lbs
Posts: 4,864
BodyBlog Entries: 0
BodyPoints: 12716
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If you have good credit and a stable job now it the time to buy if you haven't already. As much as I hate the term "this is a buyers market" it is. If you don't have the money to put down renting is not a sin like some would have you believe. However, the market will pick back up, who knows when, but buy when the market is soft if you can.
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06-01-2009, 01:24 PM
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#13
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Banned
Join Date: Apr 2009
Age: 31
Posts: 453
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Quote:
Originally Posted by Jester78
this
would you rather have your money going towards something or completely disappearing?
Own  |
^^This
You don't have to buy a house or anything, condo's, duplexes, etc, find something that meets your needs and in your price range. When you are ready to buy bigger you will be able to afford more.
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06-01-2009, 01:24 PM
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#14
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Sheepdog #3
Join Date: Apr 2007
Location: New York, United States
Age: 29
Stats: 6'1", 180 lbs
Posts: 4,328
BodyBlog Entries: 0
BodyPoints: 23145
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Quote:
Originally Posted by kelt_22
Does not exist. unless you live in the same house for a LONG time. look at the current market. people owe more than there houses are worth plus you pay almost doulbe the price once intrest is added in. Also maintence. I mow my lawn. Thats it. Plumber, new roof, etc I pay nothing.
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I could sell my town house right now and MAKE 15K and I've only owned it for 2.5 years. You can't make money renting.
__________________
*S* 1\*
If you can read this thank a teacher. If you can read this in english thank a Soldier.
John 15:13 Greater love hath no man than this, that a man lay down his life for his friends.
The world is a dangerous place, not because of those who do evil, but because of those who look on and do nothing.
(Albert Einstein)
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06-01-2009, 01:24 PM
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#15
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Marauder Fitness
Join Date: Mar 2007
Location: Aurora, Illinois, United States
Age: 29
Stats: 6'0", 275 lbs
Posts: 1,326
BodyBlog Entries: 0
BodyPoints: 2366
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Quote:
Originally Posted by blancmange
of course you own.. Renting is just flushing money down the toilet (yes have mortgage, yes going to be renting it out in a coupla months)
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this is a good point. I have thought about that. move out after a few years and rent out the old house But that is not as easy as it sounds. being a land lord is not a fun job.
__________________
I manage a Fitness Equipment store so if you have questions on equipment PM me and I will help.
In religion and politics, people's beliefs and convictions are in almost every case gotten at second hand, and without examination.- Mark Twain
Current Lifts
Bench 295x1
Squat 325x2
Dead 380x1 (yes, weak posterior chain, I am working on it)
Wt 273lb as of 10/3/09 Goal is 245 by January 1st.
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06-01-2009, 01:25 PM
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#16
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Needs a tan
Join Date: Apr 2008
Location: Montana, United States
Stats: 5'10", 196 lbs
Posts: 4,378
BodyBlog Entries: 0
BodyPoints: 0
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I think now is one of the best times to buy. Housing prices have come down, tax free $8k you can sometimes use for a down payment or just take the cash, and very low interest rates.. But it all depends on the area. Here, house prices still went up last year so it's still good to own. If you can afford it, it's a smart move. People typically make 5-10% each year in home they get to live in. And the interest you pay on your loan is deductible, so why wouldn't you own?
__________________
Growing up is getting old.
Building muscle isn't as easy as simply adjusting calories. If your lifts aren't improving, neither is your physique.
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06-01-2009, 01:25 PM
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#17
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Registered User
Join Date: Mar 2009
Age: 30
Stats: 6'3", 262 lbs
Posts: 4,475
BodyPoints: 0
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Rent your home, buy your investment properties.
I'm not saying this is gospel for everyone, but for most, this would be the most financially beneficial model at least until the NOI on the rentals = monthly total expenses.
__________________
2009 bb.com's Jiu Jitsu team --- 500+ in my CP gets repped back every time
http://jerlopy.mybrute.com/
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06-01-2009, 01:25 PM
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#18
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Do Work Son
Join Date: Apr 2007
Location: United States
Stats: 5'9", 157 lbs
Posts: 8,838
BodyBlog Entries: 0
BodyPoints: 24673
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depends on your situation, if you think there is a possibility of you moving around then rent, if you got wife/kids etc and want stability you should own. That is of course just my opinion.
__________________
11/3/09 RIP Monte, you will be misced :(
I ran through every bitch in my path
I was ****in' chicks in the ass when I was six-and-a-half
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06-01-2009, 01:25 PM
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#19
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Registered User
Join Date: May 2009
Age: 47
Posts: 237
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Quote:
Originally Posted by kelt_22
What do you guys think. Also if you dont do either one STFU. I dont teenage theories.
Personally I am all for Renting till I get older it is cheaper and as the recent market has shown safer in many cases.
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Own if your budget permits and you are planning to stay in the same location at least for a few years. Rent if otherwise.
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06-01-2009, 01:26 PM
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#20
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Sheepdog #3
Join Date: Apr 2007
Location: New York, United States
Age: 29
Stats: 6'1", 180 lbs
Posts: 4,328
BodyBlog Entries: 0
BodyPoints: 23145
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Quote:
Originally Posted by kelt_22
this is a good point. I have thought about that. move out after a few years and rent out the old house But that is not as easy as it sounds. being a land lord is not a fun job.
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Truth. My buddy owns 3 multiple unit houses and he has more problems than you can imagine (he also has some ****ty tenants).
__________________
*S* 1\*
If you can read this thank a teacher. If you can read this in english thank a Soldier.
John 15:13 Greater love hath no man than this, that a man lay down his life for his friends.
The world is a dangerous place, not because of those who do evil, but because of those who look on and do nothing.
(Albert Einstein)
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06-01-2009, 01:27 PM
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#21
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Registered User
Join Date: Mar 2005
Location: Training in Russia
Stats: 5'10", 177 lbs
Posts: 4,864
BodyBlog Entries: 0
BodyPoints: 12716
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Quote:
Originally Posted by kelt_22
Does not exist. unless you live in the same house for a LONG time. look at the current market. people owe more than there houses are worth plus you pay almost doulbe the price once intrest is added in. Also maintence. I mow my lawn. Thats it. Plumber, new roof, etc I pay nothing.
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But you get to write off your interest on your mortgage on your taxes so the government is effectively subsidizing your mortgage in part. You can also borrow against your equity if you have any. Not all areas of the country have dropping home values that make them upside down.
I've lived in my house for 3 years and have 30% equity.
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06-01-2009, 01:27 PM
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#22
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Marauder Fitness
Join Date: Mar 2007
Location: Aurora, Illinois, United States
Age: 29
Stats: 6'0", 275 lbs
Posts: 1,326
BodyBlog Entries: 0
BodyPoints: 2366
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Quote:
Originally Posted by Mike Hancho
I could sell my town house right now and MAKE 15K and I've only owned it for 2.5 years. You can't make money renting.
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no you did not make 15 k because for one some need to pay that for you to have made it. People forget this little detail.
More over you payed ALOT more than me ever month to get to that point. Add up all the money you payed to get anything fixed or replaced as well then you get your real numbers.
__________________
I manage a Fitness Equipment store so if you have questions on equipment PM me and I will help.
In religion and politics, people's beliefs and convictions are in almost every case gotten at second hand, and without examination.- Mark Twain
Current Lifts
Bench 295x1
Squat 325x2
Dead 380x1 (yes, weak posterior chain, I am working on it)
Wt 273lb as of 10/3/09 Goal is 245 by January 1st.
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06-01-2009, 01:28 PM
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#23
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Beat it like a cop...
Join Date: Dec 2008
Location: Lexington Park, Maryland, United States
Age: 31
Stats: 5'11", 208 lbs
Posts: 525
BodyPoints: 0
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Quote:
Originally Posted by kelt_22
Does not exist. unless you live in the same house for a LONG time. look at the current market. people owe more than there houses are worth plus you pay almost doulbe the price once intrest is added in. Also maintence. I mow my lawn. Thats it. Plumber, new roof, etc I pay nothing.
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this is not true at all...even in this market my house is still worth a LOT more than I built it for...
Sure, it was worth alot more than that two years ago, but I'm still in the green...and even if I wasn't...so what? it's mine....i'm not going anywhere, the market always rebounds....and I'm not just paying for someone elses investment like you do as a renter...
I just don't get your rational.....your paying x amount of dollars a month to rent...why not put that money towards owning? when you do decide to move, you get money back...the only thing you might get back is a security deposit...
__________________
~BDC~
~Misc Shaved Head Crew~
REPS OWED:
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06-01-2009, 01:28 PM
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#24
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The OG of Manletness
Join Date: Nov 2008
Location: Illinois, United States
Age: 31
Stats: 5'6", 166 lbs
Posts: 2,472
BodyBlog Entries: 0
BodyPoints: 0
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Quote:
Originally Posted by Mike Hancho
I could sell my town house right now and MAKE 15K and I've only owned it for 2.5 years. You can't make money renting.
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exactly.
The townhouse I bought within a half hour of your area OP appraised at almost 40k higher than it appraised for 3 years ago when I bought it. My wife is a real estate agent for Koenig and Strey, and believe it or not, there are still alot of people buying right now. Even if prices may be down now, it wont be that way forever
__________________
-chew crew
Go Cubs and Go Bears/Cutler, make us proud PLEASE!
lifting stats embarrassing and unpostable
fecalpheliac
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06-01-2009, 01:32 PM
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#25
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The OG of Booze
Join Date: Mar 2009
Age: 30
Stats: 6'0", 197 lbs
Posts: 3,583
BodyPoints: 0
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Own.
Renters are living a fairytale.
Buying right now gets you:
a) lowest market values in a long time (primed for instant equity)
b) 8k tax-credit for first time owners
c) write off mortgage interest on taxes
d) write off improvements (energy saving, etc) on taxes
e) improvements turn into cash when you sell (super-equity)
f) can borrow against equity
g) good for credit rating
h) eventually the house is 100% yours, the house is 0% yours if you rent
i) mortgage payments don't go up. Rent does.
j) #1 source of financial secuirty and independence for majority of home owners.
__________________
MMMC
Misc Strength Crew
900 Club 9/24/09
Bench: 275
Squat: 315
Dead: 315
Raw: no straps, no belt, no chalk.
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06-01-2009, 01:32 PM
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#26
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Cutting! (Myself?!?)
Join Date: May 2006
Location: Albany, California, United States
Age: 27
Stats: 5'9", 163 lbs
Posts: 199
BodyBlog Entries: 0
BodyPoints: 0
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I WAS planning to own, but it looks like mortgage rates are going back up so I might be renting for a while now.
Also, I might switch jobs within 1.5 years or move.
__________________
5/3/09 - 183
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7/25/09 - 170
10/20/09 - 163
10/28/09 - 160
Goal - 150-155 @ 8-10%, Then Clean Bulk
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06-01-2009, 01:33 PM
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#27
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Marauder Fitness
Join Date: Mar 2007
Location: Aurora, Illinois, United States
Age: 29
Stats: 6'0", 275 lbs
Posts: 1,326
BodyBlog Entries: 0
BodyPoints: 2366
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Quote:
Originally Posted by Rogue42DW
this is not true at all...even in this market my house is still worth a LOT more than I built it for...
Sure, it was worth alot more than that two years ago, but I'm still in the green...and even if I wasn't...so what? it's mine....i'm not going anywhere, the market always rebounds....and I'm not just paying for someone elses investment like you do as a renter...
I just don't get your rational.....your paying x amount of dollars a month to rent...why not put that money towards owning? when you do decide to move, you get money back...the only thing you might get back is a security deposit...
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If I spend $500 a month less on average I am "making" $6,000 a year. and it is done, No need to sell or worry about it going down in price. is the return really more than me saving up front and saving it/ investing in other things?
__________________
I manage a Fitness Equipment store so if you have questions on equipment PM me and I will help.
In religion and politics, people's beliefs and convictions are in almost every case gotten at second hand, and without examination.- Mark Twain
Current Lifts
Bench 295x1
Squat 325x2
Dead 380x1 (yes, weak posterior chain, I am working on it)
Wt 273lb as of 10/3/09 Goal is 245 by January 1st.
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06-01-2009, 01:34 PM
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#28
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Sheepdog #3
Join Date: Apr 2007
Location: New York, United States
Age: 29
Stats: 6'1", 180 lbs
Posts: 4,328
BodyBlog Entries: 0
BodyPoints: 23145
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Quote:
Originally Posted by kelt_22
no you did not make 15 k because for one some need to pay that for you to have made it. People forget this little detail.
More over you payed ALOT more than me ever month to get to that point. Add up all the money you payed to get anything fixed or replaced as well then you get your real numbers.
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Purchase price: 82K
Renovations/Improvements: 13K
Total investment: 95K
House next to me just sold for 112K and has no updates. My townhouse has been 100% remodeled. 2 realtors told me I can list this for 120K and sell immediately.
I pay off the 78K (and change) I owe on the mortgage, reimburse myself for the 13K in renovations, reimburse myself for the approx. 2K I've paid in interest on the mortgage.
Subtract that all from the 120K selling price and that leaves me 20K on the plus side. How do I not make money on this???
__________________
*S* 1\*
If you can read this thank a teacher. If you can read this in english thank a Soldier.
John 15:13 Greater love hath no man than this, that a man lay down his life for his friends.
The world is a dangerous place, not because of those who do evil, but because of those who look on and do nothing.
(Albert Einstein)
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06-01-2009, 01:34 PM
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#29
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Beat it like a cop...
Join Date: Dec 2008
Location: Lexington Park, Maryland, United States
Age: 31
Stats: 5'11", 208 lbs
Posts: 525
BodyPoints: 0
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Quote:
Originally Posted by RoodyPooUS
I WAS planning to own, but it looks like mortgage rates are going back up so I might be renting for a while now.
Also, I might switch jobs within 1.5 years or move.
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dude....the interest rates are probably not going to come back down to these levels again/a long ass time....I would think twice about waiting for something better to come along..
__________________
~BDC~
~Misc Shaved Head Crew~
REPS OWED:
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06-01-2009, 01:35 PM
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#30
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Dr. Drew healed me.
Join Date: Mar 2008
Location: California, United States
Age: 25
Stats: 5'11", 175 lbs
Posts: 3,437
BodyBlog Entries: 0
BodyPoints: 0
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Equity + Interest Tax Dedution = Win.
__________________
ئەنسیکلۆپێدیایFlorida Gators Crewئەنسیکلۆپێدیای
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